Tuesday, January 5, 2016

Domestic Partnership Agreement, Separate Property (Simple) NJ

Domestic Partnership 
Agreement, Separate 
Property (Simple)

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We, __________________________ and _________________________, make the
following agreement:
For more information go to http://njwillsprobatelaw.com/domestic
1. We enter into this contract to set forth our
rights and responsibilities to each other. [Recite the consideration for the contract.]
2. We intend to abide by the provisions of this
agreement in the spirit of love, joy, cooperation,
and good faith.
3. We agree that all property owned by either of us,
as of the date of this agreement, shall be considered
to be and shall remain the separate property of each.
Neither of us will have any claim to the separate
property of the other absent a written agreement
transferring ownership. Lists of our major items
of separate property are attached and incorporated
into this agreement.
4. Our individual income and any property
accumulated from that income shall remain
the separate property of the person earning the
income. Neither of us shall have any claim to
this separate property.
5. Each of us shall maintain separate bank accounts. This includes checking, savings, and credit card accounts.
6. Neither of us shall be liable or responsible for the individual debts incurred by the other in her/his own name.
7. We agree to be jointly responsible for all debts we enter into together.
8. We agree to equally divide all household and living expenses. This includes, but is not limited to, groceries, utilities, rent, and daily household expenses.
9. We agree that there may be a need to maintain a joint bank account (checking or savings) for a specific purpose. In that event, we agree to contribute an equal amount to the bank account. Neither party will have the right to withdraw funds from that account without the permission and consent of the other.
10. We also agree that we may, at some time, agree to own property jointly. Any jointly held property ownership shall be reflected either in writing or on the title to said property. In the event we dissolve our domestic partnership, we provide that any jointly held property will be divided into equal shares, unless we provide otherwise in a written document.
11. Any property received by one of us through gift or inheritance remains the separate property of the recipient. The other party has no claim on that separate property unless provided for in a written instrument.
12. Neither of us has any rights to, nor any financial interest in, any real estate owned entirely or partially by the other person. This includes any real property accumulated before or during our relationship.
13. We agree that either party can terminate this contract by giving the other party a one-week written notice of that intent. If either of us seriously considers leaving the relationship we both agree to at least three counseling sessions with a professional counselor or therapist.
14. In the event that this relationship is terminated we agree to divide all jointly held property equally. Neither of us shall have any claim against the other for support, property, or financial assistance.
15. We agree to resolve any dispute arising from this agreement through mediation. The mediator shall be an objective third party who is mutually agreed upon. The mediator’s role shall be to help us dissolve our relationship and resolve any differences concerning a division of jointly held property or other issues in a mature and unemotional manner. We agree to enter into mediation in good faith.
16. In the event that our attempt at good-faith mediation is unsuccessful to resolve all issues in dispute, either party may seek to resolve the issues through arbitration through the use of the following protocol:
a. Deliver a written demand for arbitration to the other person and name one arbitrator;
b. The other party shall respond with the name of a second arbitrator within five days from receipt of the notice;
c. The two named arbitrators shall select and name a third arbitrator;
d. The arbitration meeting will take place within seven days following the selection of the third arbitrator;
e. Each party is entitled to retain legal counsel at his/her own expense;
f. Each party may present witnesses and evidence at the arbitration hearing;
g. The arbitrators shall issue their decision within five days after the hearing. Their decision shall set forth their findings and conclusion and shall be in writing. The decision shall be binding upon each of us. We agree that neither party shall seek relief from the arbitration decision in court.
h. If the person to whom an arbitration demand is made fails to respond within five days, the other party may give an additional five days’ written notice of his/her intent to proceed. If there is still no response, the person initiating the arbitration may proceed with the arbitration before an arbitrator he/she has designated. Any award shall have the same force and effect as if all three arbitrators had settled it.
17. This agreement represents our complete understanding concerning our domestic partnership. It replaces any and all prior agreements, written or oral. We agree that this document can be amended in only writing and must be signed by both of us.
18. We agree that in the event a court finds any portion of this contract to be illegal or otherwise unenforceable, the remainder of the contract shall remain in full force and effect.Signed this _____ day of ______________,
20__, at _____________________,
Signature Signature
State of ______________
County of ____________
______________________ and _____________________________ personally
appeared before me and executed and
acknowledged this Domestic Partnership
Agreement before me this ____ day of
____________, 20__.
Notary Public
Exhibit A: Separate Property of _________________________________
Exhibit B: Separate Property of _________________________________

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